PLI’s “The CFPB Speaks” Panel Discussion

By Theodore R. Flo & Justin Angelo on April 7, 2016

On April 4, at the Practicing Law Institute’s (“PLI”) 21st Annual Consumer Financial Services Institute in Manhattan, Alan Kaplinsky (a co-chair of the institute) moderated a panel entitled “The CFPB Speaks,” where CFPB officials shared their own insights on industry trends on their radar, priorities for the coming years, and views on certain hot-button issues. On the panel from the CFPB were Anthony (“Tony”) Alexis (Assistant Director for Enforcement), Jeffrey Langer (Assistant Director for Installment…

Consumer Finance Monitor

Are the DFS’ latest debt collection rules a harbinger of things to come?

By Justin Angelo on July 21, 2014

In May, we wrote that the New York Department of Financial Services (“DFS”) would soon be issuing revised debt collection regulations for debt buyers and third party debt collectors. On July 16, the DFS released the revised proposed regulations. Among other things, the revised proposed rules would require a debt collector to substantiate not only consumer disputes for defaulted debts, but also charged-off debts. The proposed regulations would also impose additional obstacles on collectors…

Consumer Finance Monitor

The NY DFS, the NY Attorney General and the CFPB: What’s in store for the CFS industry

By Justin Angelo on May 16, 2014

Wednesday night , Joy Feigenbaum , the New York Department of Financial Services’ (“DFS”) executive deputy superintendent, and Jane Aziza, the Chief of the Bureau of Consumer Frauds and Protection at the New York Attorney General, spoke at the monthly meeting of the Consumer Affairs Committee for the New York City Bar Association. Not only did Ms. Feigenbaum and Ms. Aziza summarize recent regulatory and enforcement actions taken by their respective agencies, but they also discussed…

Consumer Finance Monitor

NY Dept of Financial Services becomes first state regulator to bring Dodd-Frank UDAAP action

By Justin Angelo on April 25, 2014

Earlier this week, Benjamin Lawsky, the Superintendent of the New York Department of Financial Services (DFS), became the first state regulator to use his authority under Dodd-Frank Section 1042 to bring a civil action for a violation of the Dodd-Frank prohibition of unfair, deceptive or abusive acts or practices (UDAAP). Similar to most other states’ laws prohibiting unfair or deceptive acts or practices (UDAP), New York’s General Business Law only allows UDAP actions to be…

Consumer Finance Monitor

CFPB general counsel gives glimpse into CFPB’s upcoming agenda

By Justin Angelo on April 11, 2014

On Monday, April 7, CFPB General Counsel Meredith Fuchs warned that debt collection, payday lending, prepaid cards and privacy notices are priorities for the Bureau in the coming months. Appearing before the Practicing Law Institute’s 19th Annual Consumer Financial Services Institute in New York City, Ms. Fuchs noted that the CFPB has already received in excess of 22,000 comments in response to its debt collection advanced notice of proposed rulemaking (ANPR). Calling “certain debt collection…

Justin Angelo

PLI’s “The CFPB Speaks” Panel Discussion

Are the DFS’ latest debt collection rules a harbinger of things to come?

The NY DFS, the NY Attorney General and the CFPB: What’s in store for the CFS industry

NY Dept of Financial Services becomes first state regulator to bring Dodd-Frank UDAAP action

CFPB general counsel gives glimpse into CFPB’s upcoming agenda

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